<p>The government is targeting 5 million tonnes (MT) of green hydrogen production by 2030, Finance Minister Nirmala Sitharaman announced on Wednesday in her Budget speech.</p>.<p>She also said that the Budget provides for Rs 35,000 crore for priority capital investment towards energy transition and net zero objectives.</p>.<p>The government would support setting up of battery energy storage of 4,000 MwH, she said, adding green credit programme will be also notified under the Environment Protection Act.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/union-budget/union-budget-2023-major-shakeup-in-income-tax-slabs-new-tax-regime-is-default-1186679.html" target="_blank">Union Budget 2023: Major shakeup in Income Tax slabs, new tax regime is default</a></strong></p>.<p>With a vision to make India an energy-independent nation and to de-carbonise critical sectors, the government approved the National Green Hydrogen Mission on January 4, 2023, with an initial outlay of Rs 19,744 crore.</p>.<p>The mission will facilitate demand creation, production, utilisation and export of green hydrogen, and mobilisation of over Rs 8 lakh crore of investments by 2030.</p>.<p>The economic survey tabled in Parliament on Tuesday stated that from the emerging global momentum on green hydrogen, India can situate this decarbonisation opportunity not just within the context of a low-carbon economy but also as an enabler of energy security and economic development for the nation.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/union-budget/budget-prioritizes-growth-with-focus-on-capex-vishal-kapoor-ceo-idfc-amc-1186737.html" target="_blank">Budget prioritizes growth with focus on capex: Vishal Kapoor, CEO, IDFC AMC</a></strong></p>.<p>The minister further said that the government would spend Rs 10,000 crore per year on urban infrastructure development funds.</p>.<p>This would be along the lines of the Rural Infrastructure Development Fund; to be managed by NHB (National Housing Bank).</p>
<p>The government is targeting 5 million tonnes (MT) of green hydrogen production by 2030, Finance Minister Nirmala Sitharaman announced on Wednesday in her Budget speech.</p>.<p>She also said that the Budget provides for Rs 35,000 crore for priority capital investment towards energy transition and net zero objectives.</p>.<p>The government would support setting up of battery energy storage of 4,000 MwH, she said, adding green credit programme will be also notified under the Environment Protection Act.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/union-budget/union-budget-2023-major-shakeup-in-income-tax-slabs-new-tax-regime-is-default-1186679.html" target="_blank">Union Budget 2023: Major shakeup in Income Tax slabs, new tax regime is default</a></strong></p>.<p>With a vision to make India an energy-independent nation and to de-carbonise critical sectors, the government approved the National Green Hydrogen Mission on January 4, 2023, with an initial outlay of Rs 19,744 crore.</p>.<p>The mission will facilitate demand creation, production, utilisation and export of green hydrogen, and mobilisation of over Rs 8 lakh crore of investments by 2030.</p>.<p>The economic survey tabled in Parliament on Tuesday stated that from the emerging global momentum on green hydrogen, India can situate this decarbonisation opportunity not just within the context of a low-carbon economy but also as an enabler of energy security and economic development for the nation.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/union-budget/budget-prioritizes-growth-with-focus-on-capex-vishal-kapoor-ceo-idfc-amc-1186737.html" target="_blank">Budget prioritizes growth with focus on capex: Vishal Kapoor, CEO, IDFC AMC</a></strong></p>.<p>The minister further said that the government would spend Rs 10,000 crore per year on urban infrastructure development funds.</p>.<p>This would be along the lines of the Rural Infrastructure Development Fund; to be managed by NHB (National Housing Bank).</p>